Monday, May 24, 2010

Do I fill in P46 and tick C for my full time temp job?

I work as bank staff (as and when needed type) with my first job with £0-100 weekly earning and started a temp full time job recently with expected income of £280 weekly. I was asked to submit either a P45 or P46 but since I'm still employed with the first one, guess I have to give P46. How will the tax work for me? How does emergency tax differ from those with BR code and which one is better in terms of lesser tax pay? Any answer is greatly appreciated.

Do I fill in P46 and tick C for my full time temp job?
Wilfred is not correct. BR is basic rate tax with no tax free allowances. Emergency code gives you the basic tax free allowance on a week one basis. It looks as if your new job is your main job, so you should tick the box on the P46 which indicates this is your only or main job. Then contact the tax office to let them know that your bank work is your second job and ask them to allocate BR against that income. All your tax free allowances will then be allocated to your new job where you have a regular income and earn the most.
Reply:BR basic tax is exactly the same as emergency tax you pay tax at the basic rate until the tax office have given both your jobs the correct code inform the tax office you have two jobs they will sort out. you cannot give the second employment your P45 because you have not left that employment so the company wont give you one. you dont need to fill the P46 in because it will not apply to you are still in employment


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